Information And Data Of Analytics - 1750 Words

Competing on analytics is currently one of the most essential qualities for companies looking to gain a larger market share in their given industry. This is due to the fact that the easiest way for corporations to differentiate themselves from their direct competitors is to maximize efficiency through cohesive processes and decision making. Analytics is defined as, â€Å"The extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact based management to drive decisions and actions.† (Davenport, 2007, p.7) So in order for companies to compete on analytics they need to be willing to invest in the proper technologies that are able to compile all of this information and data into output that can be used†¦show more content†¦Over the past summer I worked as an entry-level analyst for the company and my duties included collecting and reporting sales data to the regional managers using excel spreadsheets. CXC has been in business for over 20 years and they provide contingent workforce solutions in over sixty countries worldwide. The CXC website states, â€Å"We helps thousands of organizations and individual contractors decrease costs and increase profits by providing innovative contractor management, compliance, payroll and remuneration solutions, risk mitigation, salary packaging. Today, CXC Global continues to lead the way with the development of new technologies and initiatives enabling both corporations and individual consultants to adapt in today’s high performance work environment.† (CXC Global Website) These technologies allow CXC to provide customers with services that no other company in their industry can provide, while also charging a very competitive price. So what exactly does competing on analytics mean for a company like CXC? The text defines an analytical competitor as, â€Å"An organization that uses analytics extensively and systematically to outthink and outexecute the co mpetition.† (Davenport, 2007, p.23) This statement somewhat defines CXC as they use some analytics to gain an advantage over the other companies that the directly compete with. However, most of the analytics that CXC had been using when I began working